“I used to buy ‘trophy’ art,” Sun said. The collector noted that the purchase of Le Nez was a strategic move recommended by his advisor, and that 2021 was a good time for investing in art, ...

Mr. Sun, 34, is no stranger to controversy, in the art world and beyond. He made waves last year with his $6.2 million purchase of a conceptual piece consisting of a banana taped to a wall, and ...